Apollon Wealth Management LLC Acquires 6,070 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Apollon Wealth Management increased its Goldman Sachs stake by 23% in the first quarter, adding 6,070 shares to bring its total to 32,462 shares valued at about $27.5 million.
• Goldman Sachs reported better-than-expected quarterly results, with EPS of $17.55 versus an estimate of $15.92 and revenue of $17.23 billion, up 14.4% year over year.
• The company also announced a quarterly dividend of $4.50 per share, equivalent to $18 annually and a 1.8% yield, while analysts currently have an average rating of Hold with a consensus price target of $960.68.

Apollon Wealth Management LLC grew its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,462 shares of the investment management company's stock after acquiring an additional 6,070 shares during the period. Apollon Wealth Management LLC's holdings in The Goldman Sachs Group were worth $27,463,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GS. Audent Global Asset Management LLC increased its holdings in shares of The Goldman Sachs Group by 10.1% in the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock worth $4,604,000 after buying an additional 479 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of The Goldman Sachs Group by 3.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 215,482 shares of the investment management company's stock worth $189,409,000 after acquiring an additional 8,154 shares during the last quarter. Rathbones Group PLC lifted its holdings in shares of The Goldman Sachs Group by 12.6% during the 3rd quarter. Rathbones Group PLC now owns 276,364 shares of the investment management company's stock worth $220,082,000 after acquiring an additional 30,825 shares during the last quarter. Oak Grove Capital LLC purchased a new position in The Goldman Sachs Group in the fourth quarter worth $1,890,000. Finally, Global Retirement Partners LLC increased its stake in The Goldman Sachs Group by 35.0% in the fourth quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company's stock valued at $10,499,000 after acquiring an additional 3,098 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Dbs Bank raised their price target on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a "neutral" rating in a research report on Friday, June 12th. Citigroup boosted their target price on The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada reiterated a "neutral" rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Nine investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $960.68.

Insider Buying and Selling

In other news, CFO Denis P. Coleman sold 6,857 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares in the company, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares in the company, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,681 shares of company stock worth $31,737,875. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $1,021.45 on Monday. The company has a 50-day simple moving average of $996.38 and a two-hundred day simple moving average of $928.65. The Goldman Sachs Group, Inc. has a 12-month low of $685.39 and a 12-month high of $1,125.00. The firm has a market cap of $301.34 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.33 and a beta of 1.30. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $14.12 earnings per share. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 59.6 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group's payout ratio is 32.89%.

Trending Headlines about The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs highlighted three stocks positioned to benefit from the projected $757 billion AI capex supercycle, reinforcing its influence and constructive stance on major growth themes. Goldman Sachs Predicts 3 Stocks to Benefit Most From $757B AI’s Capex Supercycle
• Positive Sentiment: Investors are looking ahead to Goldman Sachs’ second-quarter earnings, with expectations for double-digit earnings growth, which could support sentiment if results confirm strength in trading and investment banking. Here's What to Expect From Goldman Sachs’ Next Earnings Report
• Neutral Sentiment: Rothschild & Co Redburn raised its price target on Goldman Sachs but maintained a neutral rating, suggesting the shares may be fairly valued after their run-up. MarketScreener report on Rothschild & Co Redburn target change
• Neutral Sentiment: Goldman Sachs remains in the market spotlight, with investors heavily searching the stock and watching for catalysts, but this is more a sentiment indicator than a direct fundamental driver. Investors Heavily Search The Goldman Sachs Group, Inc. (GS): Here is What You Need to Know

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs' core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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